TRADERS RECOUNT THEIR ORDEAL AS DOLLAR SCARCITY MAKES THEM THRONG LOCAL MARKETS IN LARGE NUMBERS

The scarcity of dollars in the country has left traders with no option than to be thronging some commercial cities in the country to buy goods in order to remain in business.

According to Saturday Punch, Some of the traders, who are majorly importers of textiles and other materials, resorted to thronging Aba, Onitsha, Lagos, and Kano markets, among others, due to the scarcity of dollar in both commercial banks and the black market.

According to the traders, the scarcity has continued to affect their businesses.

The traders claimed that they decided to buy from the local markets in order to meet the demands of their customers and to “avoid being pushed out of their sources of livelihood.”

The Managing Director, Ziza Cosmetics, Bauchi, Mrs. Christabel Rowland, said the dollar scarcity had almost “ruined” her business before she resorted to buying goods from the Kano market.

She said, “Apart from the scarcity of dollar, the exchange rate is just rising with no sign of it dropping.

“I can’t buy anything abroad presently. If I should buy, my customers may not afford to buy them because the goods will be very expensive.

“Anybody who travels now to buy goods abroad will only waste his money and make losses because it is not advisable to bring imported goods to Nigeria now with the high exchange rate.

“It is better to buy in Kano or Lagos in order to minimise cost. I can’t imagine buying goods abroad at this critical time.”

Also, a bank customer, Alhaji Jimoh Obasa, said his international business had suffered a huge setback because of the scarcity of dollars.

He said since he could no longer discharge his responsibilities with his clients, he decided to temporarily close his operations while hoping that the situation would improve.

A businesswoman, Mrs. Joy Ajayi, who usually buys goods from Dubai, and the United States, said her hitherto booming business had been undergoing serious challenge as she could no longer get enough dollars to import goods.

Ajayi said she decided to buy from Aba, a commercial city in Abia State.

Alhaja Afolasade Olalere has also stopped travelling to the United Kingdom, her favourite destination for the purchase of lace fabrics, as a result of the situation.

According to her, she is not considering travelling abroad to buy goods until there is drastic reduction in the exchange rate and availability of dollar.

“The scarcity and the exchange rate are needless because many businesses are going moribund,” she said, adding that she had decided to buy from the local markets anytime she got orders from her customers.

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